Governance of regulatory bodies

13 Apr 2018

Governance in the public sector has always been a vexed question and a report released by The New Zealand Initiative today probes this issue.

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Business carries the greatest
cost of regulation, particularly when it fails. Yet we continually give far
less consideration to how some of our key institutions are governed, compared
with the amount of energy we pour into what we want them to do, says Kim
Campbell, CEO, EMA.

“Unfortunately, we bare the
cost of this when it goes wrong and the governance model fails,” he says.

The “Who Guards the Guards? Regulatory Governance in New Zealand” paper
provides a timely wake up call that we must not be complacent in this.

In New Zealand we have a
myriad of ad hoc committees and statutory oversight commissions, yet there
appears to be a range of governance models and degrees of competence.

“It’s time we started paying
attention to ensure best practise and uniformity was enforced,” says Mr Campbell.

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